International trade law includes the rules and customs for handling trade between countries or between private companies across borders. It is a mixture of domestic, national and public international law that applies to transactions for goods or services across the national boundaries. Certain multilateral treaties play an important role in this field. The Convention for the International Sales of Goods and several other treaties dealing with dispute resolution and the enforcement of resulting adjudications are examples of role played by international law in this field.
World Trade Organization, United Nations Commission on International Trade Law (UNCITRAL), United Nations Convention on Contracts for the International Sale of Goods, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), Laws made by European Union and several other International Agencies play an important role in the formation and enforcement of world trade laws. World Trade Laws are essential to promote free and fair trade between the world countries. Every country in the world has various laws or regulations to maintain and control trade with its international counterparts. Trade Regulations in United States are laws enacted by Congress or by a state to ensure a fair and competitive atmosphere for domestic and international trade. The US Constitution gives Congress elaborate power over trade activities between the states and with foreign countries through its commerce clause. These laws promote free and fair trade, fair competition between the market players and prohibit anti-competitive business practices. Trade regulation in USA is closely connected with Antitrust laws in the country. Antitrust law prohibits anti-competitive conducts such as price-fixing, bid-rigging, trusts and monopolies. The Federal Trade Commission (FTC) enforces federal consumer protection laws which prohibit fraud, deception, and other unfair business practices. It also enforces federal antitrust laws that prohibit anti-competitive mergers and other business practices. Trade regulation rules in US have the power and force of law. Department of Commerce (DOC) and its subsidiary organ, the International Trade Administration (ITA) also assists in maintaining congenial atmosphere for Trade. The DOC promotes economic growth and technological advancement. The ITA promotes trade and investment through enforcement of trade laws and agreements, and it also aims to strengthen the international trade position of the country. Trade within a state is regulated by the states themselves through their own policies and regulations. Most states in US have own antitrust statutes prohibiting monopolistic conduct, price fixing agreements and other anti-competitive acts to ensure free trade within the state.
Numerous regulatory measures, restrictions and variation of laws in each country are challenges faced by the corporate in the field of International trade. Our highly able lawyers have good understanding of the International Trade Laws accompanied with Understanding of Economics and Regulatory Interpretation. Biz & Legis understands the need of the clients and provides Distinct and economically viable and speedy services to its Clients. Contact Biz and Legis for any kind of International Trade Law solutions and services